Trophy Adds to Its Southwest Redevelopment Portfolio
Trophy Resources, Inc. is planning to increase its involvement in oil field redevelopment projects in the Southwestern region of the U.S. The Company is currently evaluating multiple prospects that show significant potential in oil reserves in the Southwest as well as Appalachia.
Eric Leonetti, Trophy Oil COO: "With the price of crude oil maintaining its value in the mid to low $70s, we believe this is the right time to explore more oil field redevelopment projects." Trophy Oil is focused on the most cost-effective means of oil exploration, including the use of water and inert gas flood methods to reinvigorate once productive fields. Added Mr. Leonetti: "the rework and flood programs using existing wells provides more profit potential to investors than new drilling; it is less capital intensive, there is a higher probability of success as a result of historical records of oil production, and, the return on investment is achieved earlier."
Trophy Resources assesses all projects on the basis of defined investment criteria including the preservation of capital and mitigation of risk.
Trophy Resources, Inc. is a publicly traded company dedicated to building a diverse portfolio of high value, low risk energy and mining projects. The Company's goal is to evaluate profitable options, build a solid foundation of assets through acquisition of land and/or leases, and explore and develop opportunities on these leases.
- Trophy Adds to Its Southwest Redevelopment Portfolio (Aug 21)
- Trophy Closes Deal In Texas (Aug 14)